James Hardie Industries Plc. · NYSE:JHX
James Hardie Industries — Shareholder Meeting (August 2011)
19 slides from James Hardie Industries's shareholder meeting presentation, Aug 16, 2011
Slide 1: Annual General Meeting - Chairman's address
8/16/2011 For personal use only ANNUAL GENERAL MEETING 16 August 2011 ANNUAL GENERAL MEETING 16 August 2011 Chairman’s address – Michael Hammes 1
Slide 2: CEO's address - Agenda
8/16/2011 For personal use only ANNUAL GENERAL MEETING 16 August 2011 CEO’s address – Louis Gries AGENDA • Global strategy • Results overview – Full Year 2011 and Q1 FY 2012 • USA and Europe Fibre Cement • Legacy issues update • Capital management • Group summary • Group outlook 4 2
Slide 3: Global Strategy and Results Overview - Full Year 2011
8/16/2011 GLOBAL STRATEGY For personal use only • Deliver primary demand growth • Continue to shift to a higher value product mix • Increase manufacturing efficiency • Build the operational strength and flexibility to deliver and sustain earnings in a low demand environment and increase output shoul
Slide 4: Results Overview - Q1 FY 2012
8/16/2011 RESULTS OVERVIEW – Q1 FY 2012 For personal use only • 1st quarter operating results reflect the continuing difficult US operating environment, a softer residential construction market in Australia, higher freight and input costs (primarily pulp) partially offset by the higher value of the
Slide 5: USA and Europe Fibre Cement - EBIT and Primary Growth
8/16/2011 USA AND EUROPE FIBRE CEMENT For personal use only EBIT and EBIT Margin* 140 35 120 30 EBIT MARGIN % 100 25 EBIT US$M 80 20 60 15 40 10 20 5 0 0 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 EBIT EBIT Margin 9 *Excludes impairment charges of US$45.6 million in Q4 FY08 USA AND EUROPE FIBRE CE
Slide 6: Legacy Issues Update
8/16/2011 LEGACY ISSUES UPDATE For personal use only ATO – 1999 Disputed Amended Assessment • James Hardie’s initial appeal dismissed in September 2010 • Charge of US$345.2 million effective 1 September 2010 (no impact on net operating cash flow in FY11) • The Full Federal Court appeal was heard in
Slide 7: Capital Management
8/16/2011 CAPITAL MANAGEMENT For personal use only • On 17 May 2011 the Board announced the resumption of the payment of dividends and a more active approach to capital management • James Hardie’s capital management policy is to distribute between 20% and 30% of profits after tax, excluding asbestos
Slide 8: Group Summary
8/16/2011 GROUP SUMMARY For personal use only USA and Europe Fibre Cement results reflected: • A continuing difficult operating environment • Higher freight and input costs (primarily pulp) • Partially offset by lower SG&A expenses and higher average net sales price Asia Pacific Fibre Cement results
Slide 9: Group Outlook
8/16/2011 GROUP OUTLOOK For personal use only United States • Weak recovery driven by low consumer confidence • The flow of foreclosed homes into the market continues, house values continue to decline, credit conditions remain restrictive and the broader economic recovery remains relatively weak and
Slide 10: Financial Statements and Reports - Resolution 1
8/16/2011 RESOLUTION 1: FINANCIAL STATEMENTS AND REPORTS For personal use only • Receive and consider the financial statements and reports for the year ended 31 March 2011 19 RESOLUTION 1: FINANCIAL STATEMENTS AND REPORTS Proxy Results: Votes % Total valid proxies received 330,480,394 For 326,103,14
Slide 11: Remuneration Report - Resolution 2
8/16/2011 RESOLUTION 2: REMUNERATION REPORT For personal use only • Receive and consider the Remuneration Report of the company for the year ended 31 March 2011 This is an advisory resolution only 21 RESOLUTION 2: REMUNERATION REPORT Proxy Results: Votes % Total valid proxies received 330,480,394 Fo
Slide 12: Re-election of Directors
8/16/2011 RESOLUTION 3: RE-ELECTION OF DIRECTORS For personal use only (a) Re-elect Michael Hammes as a director (b) Re-elect Rudy van der Meer as a director (c) Re-elect Louis Gries as a director 23 RESOLUTION 3(b): RE-ELECT RUDY VAN DER MEER Proxy Results: Votes % Total valid proxies received 330,
Slide 13: Re-elect Louis Gries and Michael Hammes
8/16/2011 RESOLUTION 3(c): RE-ELECT LOUIS GRIES For personal use only Proxy Results: Votes % Total valid proxies received 330,480,394 For 325,993,824 98.79 Against 123,929 0.04 Open 3,856,783 1.17 Abstain 505,858 N/A Excluded 0 N/A 25 RESOLUTION 3(a): RE-ELECT MICHAEL HAMMES Proxy Results: Votes % T
Slide 14: Authority to Fix External Auditor's Remuneration
8/16/2011 RESOLUTION 3: RE-ELECTION OF DIRECTORS For personal use only (a) Re-elect Michael Hammes as a director (b) Re-elect Rudy van der Meer as a director (c) Re-elect Louis Gries as a director 27 RESOLUTION 4: AUTHORITY TO FIX EXTERNAL AUDITOR’S REMUNERATION • Give authority to the Board of Dire
Slide 15: Auditor Remuneration and Hybrid RSU Grant
8/16/2011 RESOLUTION 4: AUTHORITY TO FIX EXTERNAL AUDITOR’S REMUNERATION For personal use only Proxy Results: Votes % Total valid proxies received 330,480,394 For 325,928,914 98.77 Against 193,294 0.06 Open 3,866,039 1.17 Abstain 492,147 N/A Excluded 0 N/A 29 RESOLUTION 5: GRANT OF HYBRID RESTRICTED
Slide 16: Grant of Hybrid RSUs and Relative TSR RSUs
8/16/2011 RESOLUTION 5: GRANT OF HYBRID RESTRICTED STOCK UNITS (RSUS) For personal use only Proxy Results: Votes % Total valid proxies received 330,480,394 For 320,751,456 98.26 Against 3,357,846 1.03 Open 3,871,227 0.71 Abstain 2,450,008 N/A Excluded 49,857 N/A 31 RESOLUTION 6: GRANT OF RELATIVE TO
Slide 17: Relative TSR RSUs and Equity Incentive Plan
8/16/2011 RESOLUTION 6: GRANT OF RELATIVE TOTAL SHAREHOLDER RETURN (TSR) RSUS For personal use only Proxy Results: Votes % Total valid proxies received 330,480,394 For 300,090,321 91.93 Against 24,014,402 7.36 Open 3,871,227 0.71 Abstain 2,454,587 N/A Excluded 49,857 N/A 33 RESOLUTION 7: APPROVE AME
Slide 18: Equity Incentive Plan Result and Other Business
8/16/2011 RESOLUTION 7: APPROVE AMENDMENT AND RESTATEMENT OF EQUITY INCENTIVE PLAN For personal use only Proxy Results: Votes % Total valid proxies received 330,480,394 For 322,329,536 97.96 Against 2,857,701 0.87 Open 3,841,507 1.17 Abstain 1,451,650 N/A Excluded 0 N/A 35 ANNUAL GENERAL MEETING 16
Slide 19: Disclaimer
8/16/2011 For personal use only ANNUAL GENERAL MEETING 16 August 2011 DISCLAIMER This Management Presentation contains forward-looking statements. James Hardie may from time to time make forward-looking statements in its periodic reports filed with or furnished to the SEC, on Forms 20-F and 6-K, in
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